Today's mind-blowing momentary stock market plummet is more significant than just a record. It is extremely troubling to me as an ordinary investor.
Why? It is the patently unfair decision to cancel trades executed during the momentous drop. If I have a brain fart or a fat finger moment, my brokerage doesn't say, "oh yeah, that's ok, we accept that you didn't really mean it and send me back to where I started." The CTV news report Markets sent reeling after possible trading error says that automated programs caused or accelerated the fall. Well, if the people and companies who build and use such programs get a speed advantage over me then it is only fair that they suffer the deficiencies as well. If a few companies get wiped out by their unwise reliance on program trading then others will be a little more careful about testing and putting limits on them. Let's remember, someone else was on the other side of those trades, buying when the machines did their panic selling. Why should they be denied their opportunistic profits? Caveat emptor is a basic principle of commerce. Having made the oops trading mistake myself, I am a lot more careful to check what I am doing before pressing the "Trade" button.
The fact that all markets suffered the same drop at the same time means that it wasn't a problem with markets functioning incorrectly (indeed, Nasdaq is quoted in the CTV news item as saying its systems worked properly). It was big trading house computers bailing out in a crash before the ordinary joe. There cannot be two sets of rules for different types of investors.